Ron:
If that is your belief, then I can understand why you're so worried.
That is only one of the coming 'changes' that has me 'worried', only one of many....
if there were no stock market, the US dollar would be worthless, and the world would be thrust into a series of international conflicts that would probably have us more worried about our survival as a nation than where we can put our 401K and IRA contributions.
You are correct, except substitute 'definitely' for 'probably'.
And, substitute 'when' for 'if'.
I personally, don't subscribe to that theory
Based on what facts and chain of reasoning?
You have no evidence that such a dire scenario will transpire, just as I have no evidence that it won't.
Obviously, there can be no evidence of such a future event! If there was evidence of such, it would have already occurred! Remember those that predicted the '29 and 30's crash? They had no 'evidence' obviously, before the fact! They instead predicted on underlying facts, and the ability to apply logic....
And with the threat of IMF gold sales overhanging the market, you just might see it.
The gold market will get caught in a vortex of contra-forces! There are a number of conflicting permutations possible! One is the dumping factor, esp, by Russia, Switzerland, etc.
I believe the prevailing one will be one that few are aware of, but which will evidence itself when the panic goes mainstream, in 4-6 months, and then, progressively increasing...
Most people consider gold a hedge against inflation, not depression/deflation......
However, due to its practical and psychological historical roots (of which many volumes have been written, and is far too exhaustive a subject to explore here), expect to see a redirection toward gold as a 'beacon' during the coming panic and widespread worries to come about the devaluation of money, worries about collapse of the monetary system, etc....
Did you see the Feb story about the Mint 'rationing' re; gold coins?
even during the great depression there was a stock market
Totally irrelevant analogy- they had no y2k disruptions, disasters, and catestrophies, as starters....
Furthermore, at that time, only about 8% of the population were investors in the market; today it is app. 42%;
In addition, the national savings rate is the lowest since WWII, and maybe even the market crash itself!
There are numerous other factors beyond the scope of this reply, but, in summary.....
THE ENTIRE MIDDLE CLASS OF AMERICA IS IN DANGER, WITHIN 11 MONTHS, OF LOSING MOST/ALL OF THEIR ASSETS! OF BEING WIPED OUT! KAPUT!
ASSET PRESERVATION SHOULD BE A FOCUS....short term best pick is probably US TREAS, 3 mo, and I will also predict....gold stocks...and I predict this against the predicts of ALMOST ALL mainstream economists and wall street analysts and 'experts' (lets see if they are still lauded as experts in 10 months!)!
I believe there will inevitably be a stock market
Again, based on what facts? What chains of logic?
But, please do not again raise such irrelevant, unreleated and disassociated analogies as:
There was one during the great depression, WW2, and the Vietnam War. And
In reality, I hope and want you and everyone else to stay in the market!
And, if there is one person alive today who's survival is predicated on the market NOT crashing, it is me!!!! I am a professional investor, and virtually all of my assets are tied up in stock!!!
Ken "its too late, too interrconnected, too interdependent, and too universal!" |
